Solstad clinches two PSV contracts with Equinor in UK

Norwegian offshore vessel owner Solstad Offshore has won a two-year contract with Equinor for one of its platform supply vessels, and an extension for another, for work in the UK.

Solstad Offshore, the company owning 140 offshore service vessels, said on Thursday that Equinor had hired its Normand Skipper PSV, and exercised its one-year option for the Sea Falcon vessel.

Built in 2005, the Normand Skipper will start the contract either in November or December. The contract also has up to two-years of options after the initial firm period.

As for the Sea Falcon contract, Equinor has exercised a one-year option on the present Sea Falcon contract, effective from November 2018.

The Normand Skipper will join the Sea Falcon and Sea Frost (both 2013, PX105 Design) in supporting Equinor’s UK operations. Both Sea Falcon and Sea Frost have been on contract to Equinor since 2016 and 2017 respectively.

Solstad Offshore did not disclose any details on the financial value of the contracts.

The company has earlier this week said that the OSV market recovery has been slow and the dayrates for the vessels are still not at sustainable levels for the owners.

Solstad Offshore saw its loss for the third quarter deepen to around 456 million crowns (around $55,4 million). This compares to a loss of NOK 375 million a year ago, or about $45 million.